The next day this week Historical proof And a list of 10 Place Bitcoin ETFsJoy has spread to the Ethereum community, where the ETH ETF can now be inevitable.
But for those worried about celebrating too much in one week, don't worry: Securities and Exchange Commission (SEC) Chairman Gary Gensler is always there to rain on the parade.
In an interview with CNBC This morning, Gensler gave very little encouragement when asked if the One Place Ethereum ETF is ready to get SEC approval soon.
“This week I look at what we've done to a non-security commodity called bitcoin,” Gensler said. “Just like we've had gold spot-traded products and silver spot-traded products before, this is just a non-secured commodity signal.”
Gensler declined to say anything specifically about the Ethereum ETF. But his choice of words was telling: by emphasizing the view of Bitcoin as a commodity, the chairman of the SEC was probably trying to draw a subtle line between Bitcoin's unchallenged status as a commodity, and all other cryptocurrencies-including Ethereum- as a potential status among securities. .
Gensler has for years over and over It has been preserved Bitcoin is the only cryptocurrency that it definitely treats as a commodity, meaning it is outside of the SEC's view.
While the SEC has yet to make any official statements about Ethereum's security status, the agency has signaled in the past. Legal documents He sees all Ethereum transactions as falling under his jurisdiction.
If the SEC considers Ethereum a security, that could make the regulator more hostile to a position Ethereum ETF than to a Bitcoin ETF. It has already been rejected At the end of the years basically in a Federal Court of Appeals.
That court ruling, however, could also force the SEC to approve a spot Ethereum ETF. As Gensler himself Seen this week In his statement regarding the approval of the Bitcoin ETF, the “circumstances” surrounding crypto ETFs have changed due to legal rulings.
The SEC has been ordered to review Greyscale's Bitcoin ETF application. In October Because the judges found that after approving the Bitcoin Futures ETF application, it could not arbitrarily deny the Bitcoin ETF position. The SEC has already approved the Ethereum Futures ETF In the same monthmay set up a parallel legal situation.
Futures ETFs track the value of futures contracts, which themselves give the buyer the ability to buy or sell Bitcoin at a later date. No Bitcoin is actually bought and sold when futures ETFs are bought and sold. Spot ETFs are different; Issuers buy and store Bitcoin on behalf of customers.
Ethereum is big on the excitement of Bitcoin ETF approvals this week, with hopes that the space Ethereum ETF could be next. The token $2,700 is offered This morning, for the first time since April 2022, BlackRock CEO Larry Fink told CNBC that he is all in on the Ethereum ETF and considers this week's events a “first.”
Edited by Andrew Hayward.
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